Increasing number of patient footfalls in healthcare facilities and rising need for a systematic support system are driving market revenue growth
NEW YORK, NY, UNITED STATES, April 20, 2022 /EINPresswire.com/ – The global Clinical Decision Support System (CDSS) market size is expected to reach USD 2,562.9 Million in 2028 and register a CAGR revenue of 8.6% over the forecast period, according to the latest report by Reports and Data. Rising demand for precise and error-free tools for handling huge data of patients is driving market revenue growth. Increasing prevalence of chronic diseases across the globe is resulting in rising number of patient footfall in hospitals, which is expected to result in increase in data volume generated by the hospitals. For instance, researchers at the University of Pennsylvania use a machine learning tool to predict patients at highest risk for developing severe sepsis in just 12 hours. This new tool can monitor hundreds of key variables in real-time by taking data from more than 160,000 patients.
Adoption of cloud computing in the healthcare sector is also driving market growth. Increasing usage of healthcare IoT devices and need to document and analyze large volumes of data to deliver both personal and population health management services require cloud computing from business and technology perspectives. Cloud computing also facilitates application of technologies such as Big Data analytics, cognitive computing, mobile collaboration, and information exchange which accelerates delivery of advanced healthcare solutions. Governments of various countries across the globe also play an important role in implementing any new system or technology in the healthcare industry. CDSS is expensive and thus financial support and awareness spread by governments of various countries is expected to support revenue growth of the market.
However, the cost of implementing a CDSS is very high, and it may not be feasible for all hospitals and clinical centers, which could hamper market revenue growth in the near future. In addition, servicing and software upgradation costs of these systems can sometimes be more than the price of original products.
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Some Key Highlights from the Report
In November 2019, Allscripts Healthcare Solutions entered into a partnership with San Gorgonio Memorial Hospital, which has chosen its Electronic Health Record (EHR) suite named Sunrise Community Care, built particularly for community hospitals.
Integrated CDSS segment accounted for a larger revenue share in 2020, owing to high demand for CDSS with novel functionalities to collaborate and exchange information amongst healthcare providers.
By level of interactivity, passive CDSS segment revenue is expected to grow rapidly during the forecast period, as it offers referential links to evidence-based content and resources. Hospitals and clinics often deploy these links to make decisions for evidence-based guidelines, drug libraries, agency policies, and bibliographic searches, among others.
Inpatient segment accounted for a significant revenue share in 2020 due to need to manage large volume of patient data that can be captured and analyzed by healthcare professionals. Revenue share of this segment is also increasing as CDSS may be economical for healthcare system and can help to reduce length-of-stay, providing advantages such as low-cost medication options and decreasing test duplication.
Diagnostic decision support segment accounted for largest revenue share in 2020. Increasing prevalence of allergies, especially drug allergies, is driving demand for diagnostic decision support systems for recommending, dispensing, or administering a drug to reduce medication error that may otherwise occur and lead to adverse consequences.
Market in North America accounted for largest revenue share in 2020, owing to ongoing technological advancement, high awareness of these systems among patients, and increasing focus of government bodies on providing better healthcare services to people.
Some major companies profiled in the global market report are Cerner Corporation, Epic Systems Corporation, Zynx Health, Allscripts Healthcare Solutions Inc., IBM, McKesson Corporation, Siemens Healthineers, Meditech, Philips Healthcare, and Wolters Kluwer Health.
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The report also offers detailed insights about market segmentation based on type, application and regional bifurcation:
Clinical Decision Support System (CDSS) Market Segmentation:
Outlook Component (Revenue, USD Million; 2018–2028)
Product Outlook (Revenue, USD Million; 2018–2028)
Outlook Type (Revenue, USD Million; 2018–2028)
Mode of Delivery Outlook (Revenue, USD Million; 2018–2028)
Level of Interactivity Outlook (Revenue, USD Million; 2018–2028)
Setting Outlook (Revenue, USD Million; 2018–2028)
Usage Outlook (Revenue, USD Million; 2018–2028)
Expert Laboratory Information System
Machine Learning Systems
Outlook Application (Revenue, USD Million; 2018–2028)
Diagnostic Decision Support
End-use Outlook (Revenue, USD Million; 2018–2028)
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Rest of Europe
Rest of APAC
Rest of LATAM
Middle East & Africa
Rest of MEA
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